Acquisitions

NAI Hanson Negotiates Sale of 10,761 SF Office, Residential Building in Hawthorne, New Jersey

by Alex Patton March 20, 2020

HAWTHORNE, N.J. — NAI James Hanson has negotiated the sale of a 10,761-square-foot office and residential building in Hawthorne, a northwestern suburb of New York City. Located at 297-301 Lafayette Ave., the property includes 7,381 square feet of office space and two apartments. Andrew Somple and Justin Allessio represented the seller, a private investor, in the transaction. The team also procured the buyer, Lighthouse Pregnancy Resource Center, which will use the property as its headquarters. The sales price was undisclosed.

March 20, 2020

Acquisitions Industrial Utah Western

NKF Arranges $30.1M Sale of Industrial Property in Salt Lake City

by Amy Works March 20, 2020

SALT LAKE CITY — Newmark Knight Frank (NKF) has arranged the sale of an industrial property located at 9669 S. Prosperity Road in Salt Lake City. KPFN Properties sold the asset to ARKA Properties Group for $30.1 million. Visible SCM Logistics, a supply chain management company, occupies the single-tenant, 363,996-square-foot facility. The property is located near Mountain View Corridor, a phased transportation infrastructure project that when complete will offer a 35-mile freeway spanning from Interstate 80 in Salt Lake City to State Route 73 in Utah County. Bryce Blanchard, Kyle Roberts and Lucas Burbank of represented the seller and buyer in the deal.

March 20, 2020

Acquisitions Colorado Office Western

Bancroft Capital Buys Union Terrace Office Building in Colorado for $11.3M

by Amy Works March 20, 2020

LAKEWOOD, COLO. — Manhattan Beach, Calif.-based Bancroft Capital Advisors has acquired Union Terrace, an office building located at 12596 W. Bayaud Ave. in Lakewood. San Diego-based Presidio Property Trust sold the asset for $11.3 million. Built in 1982 on 3.9 acres, the four-story Union Terrace features 84,145 square feet of office space. At the time of sale, the property was 86 percent occupied by 13 tenants. The buyer plans to add amenities and upgrade the property’s common area. Patrick Devereaux, James Brady and Campbell Davis of CBRE Capital Markets in Denver represented the seller in the transaction.

March 20, 2020

Acquisitions Healthcare Nevada Office Western

Capovilla Management Sells McFarlane Medical Center in Las Vegas for $10.4M

by Amy Works March 20, 2020

LAS VEGAS — Capovilla Management has completed the sale of McFarlane Medical Center in Las Vegas. An undisclosed buyer acquired the property for $10.4 million. Located at 8352 W. Warm Springs Road, the property features 39,279 square feet of medical office and office space. Lisa Hauger and Timothy Erickson of Sun Commercial Real Estate represented the seller in the deal.

March 20, 2020

Acquisitions Illinois Midwest Retail

Boulder Group Brokers $18.6M Sale of Property Net Leased to Jewel-Osco in Romeoville, Illinois

by Kristin Harlow March 20, 2020

ROMEOVILLE, ILL. — The Boulder Group has brokered the $18.6 million sale of a single-tenant property net leased to Jewel-Osco in Romeoville, located about 30 miles southwest of Chicago. The 67,507-square-foot building sits on 7.5 acres at 20 S. Weber Road. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Southwest-based private real estate investment company. A West Coast-based private investor purchased the asset in a 1031 tax-deferred exchange. Jewel-Osco has operated at the property since 2002 and recently executed a 20-year lease.

March 20, 2020

Acquisitions Iowa Midwest Retail

Crossroads Mall in Iowa Sells for $3.3M, Will Undergo Redevelopment

by Kristin Harlow March 20, 2020

FORT DODGE, IOWA — Mason Asset Management, Namdar Realty Group and CH Capital Group have sold Crossroads Mall in Fort Dodge in central Iowa. The sales price was $3.3 million. The buyer, Crossroads Plaza Development LLC, plans to redevelop the mall into a series of retail and office spaces. The site will also include a new, five-story hotel. Fort Dodge City Council unanimously passed the redevelopment plan and committed up to $18.2 million of public funds to support construction.

March 20, 2020

Acquisitions Indiana Industrial Midwest

Sturges Property Group Arranges Sale of 12,000 SF Industrial Building in Fort Wayne, Indiana

by Kristin Harlow March 20, 2020

FORT WAYNE, IND. — Sturges Property Group has arranged the sale of a 12,000-square-foot, single-tenant industrial building located at 6821 Metro Park Drive in Fort Wayne for an undisclosed price. John Caffray of Sturges represented the seller, Duncan Supply Co. Inc., as well as the buyer, Peakway Investment Group LLC. Indianapolis-based Duncan is a heating equipment supplier.

March 20, 2020

Acquisitions Multifamily Oklahoma Texas

Marcus & Millichap Brokers $3.9M Sale of Fox Valley Apartments in Lawton, Oklahoma

by Taylor Williams March 19, 2020

LAWTON, OKLA. — Marcus & Millichap has brokered the $3.9 million sale of Fox Valley Apartments, a 120-unit multifamily community in Lawton, located in southwestern Oklahoma. The property was built on six acres in 1980 and offers 108 two-bedroom units and 12 three-bedroom units. Derek Wilson of Marcus & Millichap represented the undisclosed seller and procured a limited liability company as the buyer.

March 19, 2020

Acquisitions Industrial Texas

Univar Solutions Sells 24,500 SF Industrial Property in San Antonio

by Taylor Williams March 19, 2020

SAN ANTONIO — Univar Solutions USA Inc., an affiliate of Illinois-based chemical distributor Univar Solutions, has sold a 24,500-square-foot industrial property situated on two acres at 4351 Director Drive in San Antonio. David Ballard of CBRE represented the buyers, private investors Thomas and Barbara Stratil, in the transaction. Rob Burlingame, also with CBRE, represented Univar Solutions USA.

March 19, 2020

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Arranges Sale of 16,390 SF Industrial Asset in Dallas

by Taylor Williams March 19, 2020

DALLAS — Lee & Associates has arranged the sale of a 16,390-square-foot industrial asset located at 4225 Scottsdale Drive in Dallas. Taylor Stell of Lee & Associates represented the seller, Heller Masonry Construction, in the transaction. The City of Dallas purchased the property for an undisclosed price.

March 19, 2020

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